..........so low, I will have to sell a kidney to fund another purchase. (damn, that kidney was going towards my new Audi.)
actually on that topic i read a while a back when I-phones and pads just came out and a guy in China really wanted one of each. He sold his kidney and went to a dodgy place for them to remove it for an Ipad. The dodgy place he went to didnt use sterilised equipment and long story short his other kidney doesnt work today either because of the operation.
sub-AUD$1500. Wow. There was a thread here somewhere about "What drop in price would make you puke". I recall a lot of people said sub-1500 would do it.
Yes the phrase "buying opportunity" does come to mind! The problem is where can you get physical at the current "spot" price anyway? All the websites prices still well over spot price!
That's what the smart $ is doing today I spent the day at a few dealers in Melbourne & they were all flat out W.Davis got cleaned out in the first 3 customers
I've yet to see physical being sold at spot price - the reality is that dealers need to make a living, and inventory on hand at the time of a price drop already represents a loss to them. In all honesty, whilst I welcome price drops as a buying opportunity, I have found it far better to look for and locate two or three places that consistently offer reasonable value on prices and have a high level of integrity and trustworthiness - this ultimately is more important than saving 50c on the price of a coin or bar. Deal with them regularly, build up a buying history, and know that if the time comes to sell you can go back to that dealer with whom you have a meaningful relationship, and work with them to achieve a good price for your bullion. Just my 2c worth, and another copper penny to add to the thought train - the site sponsors on this forum all represent folks I'd be honoured to deal with at any time.
Depending on their business model, this may not be strictly true. From my understanding, the model that many bullion dealers use is to base their prices on the 'restocking' price, rather than the 'cost' price. This basically means they can keep making a profit regardless of whether the price goes up or down, as they charge based on how much it costs them to restock. It's a good business model and works well.
or hedge it... buy 500oz of stock and short 500oz in futures markets. Profit comes out of physical premiums
I have been avoiding looking at gold prices for 2 weeks as i have been saving for something else but 1020 an ounce i could not help myself and just bought a few.
I haven't been seeing you around! Any new videos that you've uploaded recently? On another separate note, anybody knows what happened to Golden Pharaoh on youtube?
AUD $1475 gone. BOJ just about to announce massive QE and the price just keeps going down. I'm almost ready to use the George Costanza stategy and just do the polar opposite of my instinct.
All I can say is the selling prices at Perth Mint for those of us that can pickup are impossible for me to resist right now. If the 1oz Gold cast's go under $1500, I'm "backing the truck up" I think.
